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1313 N Lake St Aurora, IL 60506

For Lease
$1,953,460

Dual-tenant property with long-term leases in Aurora, Illinois.

Building Details

Year built
1986

Source: Payman Mahjoory Agent Payman Mahjoory

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Aurora, IL Investment Property

Located in Aurora, Illinois, approximately 20 miles west of Downtown Chicago, this property is leased to Gerber Collision and Classic Towing. Gerber Collision, with over 900 locations in the U.S., has occupied the property for 20 years and amended its original lease in 2020 to include four additional five-year extensions through 2045, with 10% rent increases every 5 years. The mutually beneficial relationship between Gerber Collision and Classic Towing enhances their coexistence on the property. The property benefits from its location on Illinois Route 31 (N Lake Street), which sees over 22,000 vehicles per day. The surrounding area features major national retailers such as AutoZone, Meineke, Firestone, Starbucks, and Sherwin Williams. The property is situated in an area with strong demographics, including approximately 200,000 residents within a five-mile radius and an average household income of approximately $100,000.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Gerber Collision & Glass Auto Body Shop Classic Towing (Aurora) Towing Service SCR Towing & Recovery ... Towing Service

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Diamond Tier tint, Baeza Auto Repair Aurora, The Car Doctor, George's Auto Services, I NEED ROADSIDE ASSISTANCE-AURORA

Location Insight

  • Map
  • Local Demand
City
Aurora
County
Kane
State
Illinois
Longitude
-88.3192739
Latitude
41.7861617

FAQs

What type of property is this?
Auto shop - Dual-tenant property with long-term leases in Aurora, Illinois.
Where is this auto shop located?
The property is located at 1313 N Lake St Aurora, IL.
What are key features of this property?
This property features: - Long-term lease commitment from Gerber Collision with extension options through 2045.; - Dual income streams, with potential to increase NOI.; - Strategic location in Aurora, Illinois, with strong demographics.
More about this property
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